All Forum Posts by: Heidi Wilson

I can’t pm from my phone but my friend from high school is an agent there. He’s a relatively new agent but motivated and trustworthy so happy to share his contact info once I figure out how to do that. Any idea how to pm from the app?!

What do you define as major work? How out of date is the property? Are the bathrooms current-looking with good fixtures? High impact work is kitchen and bathroom work but the kind of work that will get you a higher appraisal will cost more than just a coat of paint. Some easy things you can do is put new matching door hardware throughout the home, new bathroom fixtures, light fixtures, etc and paint. But I don’t know how much that will get you on an appraisal. Not nearly as much as a new bathroom or fully updated kitchen (new backslash, painted cabinets or new, granite countertop). Surprisingly, granite countertops are a big deal for appraisal value so if you don’t have that maybe consider adding. I always balked at the cost but an appraiser friend of mine who also flips says they are well worth the money.

Side by side with a countertop for folding and baskets. Put yourself in the mind of your buyer, especially the moms.

“Has asbestos” is pretty vague. I have purchased houses with asbestos siding (which is incredibly durable) and as long as you don’t break the tiles it doesn’t create an environmental hazard.

I use SW Alabaster when I want off-white. Otherwise I use farrow and ball (colormatched by SW) Ammonite (very pale greige)and Purbeck Stone (two tones darker in same palette). I use FB Pale Powder in bathrooms and laundry, and Borrowed Light in the Master Bedroom. it’s more work but makes the houses seem higher-end.

I have tenants put all utilities (water gas electric) in their name and pay them. I also bill back sewer which they can’t put in their name but I just take a picture of the quarterly bill I receive ($81/quarter) and have them add it to rent for that next check. I have thought about adding lawn care and roof blowing to rent but haven’t yet pulled the trigger...

*millage rate not mileage rate that was autocorrect! ;)

Okay so here are more details. The assessed value is of course lower than market value and then they apply a mileage rate. Below is a sample calculation on a fictitious $200,000 assessed value property. Usually assessed value is the purchase price (which for me is typically super low) until they have an assessment year and reassess the value based on whatever improvements you have done. Even then it’s still well below market. That being said...my property taxes are HIGH for not living in a major metro area!!!! I paid $4k on a $215k (bank appraisal) property in 2017. I find that high. Taxable value $200,000.00 Ratio X 0.06 Total taxable $12,000.00 Millage rate X 0.5220 Estimated tax for: 2018 $6,264.0

Man I feel like a chump down here in South Carolina. My property taxes are 6% of assessed value for rentals. It goes down to 4% if it’s your personal residence. What the heck!?

I’ll attend. Looking forward to meeting folks.